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News

Turkmenistan GDP had grown by over 7 percent

06.12.2010

President of Turkmenistan Gurbanguly Berdimuhamedov chaired on December 3, 2010 a meeting of the Cabinet of Ministers to review the socio-economic progress made by the country for eleven months of the current year and important issues of the state policy.
Vice Premier T. Japarov reported on the steady increase in macroeconomic indicators had been achieved in eleven months of 2010.
In January-October the GDP growth rates increased significantly. These made up 102.3 percent in industry, 122.6 percent in the construction sector, 115.3 percent in the transport and communication sector, 111.4 percent in the trade sector, 107.5 percent in the agricultural sector, 105.4 percent in the services sector.
Production of electric power, gas, oil and oil products, mineral fertilizers, cement, non-metallic building materials, ginned cotton, cotton yarn, garments and knitted goods, shoes, tanned leather, medical products, fish and fish products, bread and bakery products, milk and other agricultural products, mineral water and soft drinks increased as compared to the same period of the past year.
 
Vice Premier H. Muhammedov said that the gross turnover made up 118 percent as compared to same period of the past year. The volume of retail trade turnover made up 115 per cent, the volume of wholesale trade turnover made up 112 percent. He also reported on the positive rate of production of textile and carpet products.
Noting that the textile industry was one of the basic and export-oriented sectors of the national economy, the President underscored the need to increase sales of products of home manufacture, including through opening a broad network of economic and trade houses of Turkmenistan in foreign countries.
Vice Premier D. Orazov reported that the building volume in the capital and regions and the rates of production of building materials had risen as compared to the same period of the past year. The information was presented on most important projects and facilities, which would be put into operation in the near future.  
 
The power industry demonstrated the high rates of production – putting into operation of new power generation facilities and development of infrastructure had enhanced the capacities of the sector and ensured a substantial influx of currency earnings from export of Turkmen electric power.
President focused on the importance of guaranteeing the high quality of construction work and compliance of newly-built facilities to international standards, the need for taking a thorough approach to the selection of contractors. Dependable companies with the well-deserved reputation should be involved in implementing large-scale projects launched in the capital and regions of the country.
Specifying the tasks the construction sector was to fulfil, the Turkmen leader mentioned among them development of road and transport infrastructure in the Turkmen capital. This work, which must gain in scope in the near future, should be carried out through applying best international practices and latest engineering thought.
 
Vice Premier B. Hojamuhammedov reported on the work done for eleven months of 2010 to develop the oil and gas industry. The Vice Premier noted that for eleven months of 2010 the growth rates of oil and gas and gas condensate production had increased to 102.4 percent as compared to the same period of the past year. The same figures had been achieved in the oil-refining industry during the reporting period. The growth rate in natural and associated gas production was 111.9 percent, the volume of natural gas export made up 121.1 percent.
Focusing with satisfaction on the positive dynamics of performance indicators in the oil and gas industry, the national leader Gurbanguly Berdimuhamedov emphasized that to implement the energy strategy to all opportunities available should be used fully to deepen and expand international partnership in the gas sector, including with Asian countries.
In this regard Gurbanguly Berdimuhamedov instructed the relevant high-ranking officials to prepare for the Summit of Heads of States participating in the TAPI gas pipeline project, which would take place in Ashgabat this December, in a proper manner.
 
Vice Premier N. Shagulyev reported on the work done for eleven months of the current year in transport and communication sectors. It was noted that the positive rate of growth of major indicators had been observed at motor, rail, air and sea transport and telecommunications enterprises as compared to the same period of 2009. The Vice Premier reported on the results of the international tender for the purchase of equipment for the television tower under construction in Ashgabat.
Giving the specific instructions to the relevant high-ranking officials to purchase equipment for the television tower under construction in the capital, the Turkmen leader focused on the need to ensure that this large-scale investment project, which should bring the national TV broadcasting system to a qualitatively new level, would be implemented in a timely manner.
 
Focusing with satisfaction on the steady economic growth, the Turkmen leader noted that during the reporting period, the GDP had grown by over 7 percent and was expected to grow further. As before, the State Budget of Turkmenistan was the profitable. The volume of investments in the national economy made up 115 percent as compared to the same period of the past year. The growth rates of wages made up 112.4 percent.
The substantial state budget had been adopted for the following year, this year substantial progress, allows increasing budget expenditures by 28.3 percent, or nearly US$ 5 billion.
The President said that in 2011 US$ 741 million would be spent to promote the reforms in the education sector that was as high as 18.5 percent as compared to 2010, in the health care sector – US$ 245 million that was as high as 20.7 percent. US$ 84 million would be spent to promote the cultural sphere that was as high as 23.2 percent. In 2011, US$ 724 million would be spent for state social welfare that was as high as 35.4 percent as compared to 2010.
Touching upon the national energy policy, with diversification of energy transit to world markets as a key factor, the Turkmen leader emphasized that the consistent efforts were taken to implement this policy. Thus, on 28 November the ceremony of putting the gas pipeline into operation had taken place with the participation of the leaders of Turkmenistan and the Islamic Republic of Iran that would enable to significantly increase ‘blue fuel’ exports to Iran up to 20 billion cubic metres as well as supply natural gas and other countries.
The President said that this month Turkmenistan intended to sign the documents for construction of the transnational gas pipeline Turkmenistan-Afghanistan-Pakistan-India that would be another step to promote the energy policy of the Turkmen state.  

Other issues were considered during the meeting, and relevant decisions were adopted.

 

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